Nanobiotix Reports Q3 2023 Update on NBTXR3 Trials and Financials

Biotechnology firm Nanobiotix has issued its operational and financial update for the third quarter of 2023, detailing progress in its clinical trials for the NBTXR3 radioenhancer and reporting on its financial standing. The company also announced a significant global licensing deal.

The third quarter saw Nanobiotix enter into a global exclusive licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV, a Johnson & Johnson company, for its investigational NBTXR3 treatment. This collaboration aims to expand the worldwide potential of the radioenhancer. Nanobiotix received an upfront payment of $30 million and a $5 million equity tranche upon signing, with an additional $20.2 million received from a second equity tranche as part of a recent financing.

Clinical data presented showed encouraging results for NBTXR3. Topline Phase 1 data from Study 102 in locally advanced head and neck cancer indicated a median progression-free survival (mPFS) of 16.9 months and a median overall survival (mOS) of 23.1 months following radiotherapy activation. These findings are expected to inform the design of the global Phase 3 NANORAY-312 trial. Initial data in locally advanced pancreatic cancer also demonstrated a median overall survival of 23 months and a 92% local disease control rate.

Nanobiotix raised €50.9 million in capital through recent financing, including the second equity tranche from Johnson & Johnson Innovation. This funding extends the company's cash runway into the second quarter of 2025, assuming a development milestone is met. The removal of the EIB cash covenant has also addressed financial overhangs.

The company anticipates multiple clinical readouts over the next 18 months. Nanobiotix has scheduled a conference call and webcast for Tuesday, November 14, 2023, to discuss these updates.